Chicago Agriculture Commodities Finished Mixed

Chicago Agriculture Commodities Finished Mixed

$CORN, $WEAT, $SOYB

Chicago agriculture commodities finished  mixed Tuesday with Soybeans bouncing above 10.0/bu.

The most active Corn contract for March delivery rose 0.25 cent, or 0.07% to settle at 3.5375 bu.

March Wheat delivery went down 2.5 cents, or 0.57%, to 4.3275 bu.

January Soybean rose 10 cents, or 1.0% to 10.085 bu.

CBOT brokers reported that funds bought 6,300 contracts of Soybean and 5,400 contracts of Corn, while selling 2,100 contracts of Wheat.

Dryness is expected to prevail in Argentina and southern Brazil, areas to grow Soybean and Corn, in the next 2-3 weeks. The weather pattern has led to worries about crop yields in South America.

Speculative demand also played an important role in sparking a sharp rise in CBOT Soybean with Corn following behind. The prices of Soybean rebounded above the 10.0/bu mark for the 1st time since 13 October 2017.

Meanwhile, the latest US Wheat export sales data, which disappointed the traders, pushed down CBOT Wheat prices for the 2nd session running

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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